Published on 11/24/2010 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $537,000 three-year buffered AMPS tied to Russell 2000 index
By Marisa Wong
Madison, Wis., Nov. 24 - HSBC USA Inc. priced $537,000 of 0% buffered Accelerated Market Participation Securities due Nov. 22, 2013 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any index gain, subject to a maximum return of 30%. Investors will receive par if the index declines by 25% or less and will lose 1% for every 1% decline beyond 25%.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Buffered Accelerated Market Participation Securities
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Underlying index: | Russell 2000
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Amount: | $537,000
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Maturity: | Nov. 22, 2013
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus double any index gain, capped at 30%; par if index falls by 25% or less; 1% loss for every 1% decline beyond 25%
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Initial index level: | 727.33
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Pricing date: | Nov. 22
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Settlement date: | Nov. 26
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 1.2%
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Cusip: | 4042K06W0
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